Kobe Bryant Sets Up 100 Million Dollar Venture Capital Fund
The Lakers all-time leading scorer said he'd rather be known for investing than basketball.
Only four months into retirement, Kobe Bryant made his first post-basketball career splash into the business world Monday (Aug 22). The soon to be 38-year-old unveiled his $100 million venture-capital fund, that will be investing in technology, media and data companies.
Kobe has formed some of the most prolific duos on the court in his career, he looks to form one off the court with tech entrepreneur and investor, Jeff Stibel. The pair has teamed up to launch Bryant Stibel based out of Los Angeles, and are not currently seeking outside investors.
— Kobe Bryant (@kobebryant) August 22, 2016
Bryant was introduced to Stibel through a mutual friend and the two have invested in 15 companies together since 2013, including the first-person athlete media website The Players Tribune and video game designer Scopely, along with Juicero, which is a home-juicing company.
The 18-time All-Star isn't the first athlete to get into the technology investment space. Carmelo Anthony recently set up an investment fund Melo7 Tech Partners. Former Laker teammate Shaquille O'Neal and Golden State Warrior Andre Iguodala have been known to invest in technology start ups in the past.
In an interview with The Journal, Bryant said: "I think it's interesting that the immediate reaction from people would be competitiveness between myself and others. I'm more interested in how I can help Shaq, Melo, or Iguodala."
Bryant And Stibel opened the New York Stock Exchange this morning (Aug 22) to announce their new investment platform.
— BryantStibel (@BryantStibel) August 22, 2016
Congrats on the venture and happy retirement to Kobe!